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Cycling Wear Market | Awareness about the Benefits of Healthy Lifestyle to Boost the Market Growth | Technavio

·6 mins read

The global cycling wear market size is poised to grow by USD 2.98 billion during 2020-2024, progressing at a CAGR of about 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201009005418/en/

Technavio has announced its latest market research report titled Global Cycling Wear Market 2020-2024 (Graphic: Business Wire)

Growing awareness about the benefits of healthy lifestyles is propelling the demand for fitness equipment such as bicycles and add-on products such as cycling wear. The growing awareness about life-threatening diseases is encouraging people to engage in regular exercise routines and sports activities. Hence, activities such as cycling are gaining popularity, and participation in various amateur and professional cycling events is increasing. Additionally, rising fuel prices, increasing traffic levels, and congested public transportation motivate people to adopt cycling as a mode of commuting. This is leading to the increased adoption of cycling, which in turn is driving the demand for cycling wear.

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Report Highlights:

  • The major cycling wear market growth came from the clothing segment. The high popularity of cycling clothing can be attributed to the presence of a large number of cyclists and the widespread participation in cycling sports and events for recreation and fitness. Benefits such as protection from harsh weather conditions, safety, and ease of use drive the growth of the global cycling wear market.

  • Europe had the largest cycling wear market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The wide availability of cycling wear will significantly influence cycling wear market growth in this region.

  • The global cycling wear market is fragmented. ASSOS of Switzerland GmbH, adidas AG, FOX HEAD Inc., Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Pending System GmbH & Co. KG, Rapha Racing Ltd., Shimano Inc., Trek Bicycle Corp., and Troy Lee Designs Inc. are some of the major market participants. To help clients improve their market position, this cycling wear market forecast report provides a detailed analysis of the market leaders.

  • As the business impact of COVID-19 spreads, the global cycling wear market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Growing Participation of Women in Cycling Activities is a Key Market Trend

The growing adoption of cycling among high net worth individuals (HNWI) and countryside residents comprising women is influencing cycling wear market growth. Associated health benefits, interest in group activities, and social media trends are promoting the use of bicycles across geographies, which in turn is fueling the demand for cycling wear. Apart from regulating body metabolism and promoting physically active lifestyles, other factors popularizing cycling among women include increased availability of resources, strict laws restricting the use of carbon dioxide-emitting vehicles for short-distance commute, and focus on healthy lifestyles. The increasing adoption of cycling among women will also lead to a rise in demand for cycling wear.

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Cycling Wear Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist cycling wear market growth during the next five years

  • Estimation of the cycling wear market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the cycling wear market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of cycling wear market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product

  • Clothing - Market size and forecast 2019-2024

  • Footwear - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by Product

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver - Demand led growth

  • Volume driver - Supply led growth

  • Volume driver - External factors

  • Volume driver - Demand shift in adjacent markets

  • Price driver - Inflation

  • Price driver - Shift from lower to higher-priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • ASSOS of Switzerland GmbH

  • adidas AG

  • FOX HEAD Inc.

  • Giant Manufacturing Co. Ltd.

  • Jaggad Pty Ltd.

  • Pending System GmbH & Co. KG

  • Rapha Racing Ltd.

  • Shimano Inc.

  • Trek Bicycle Corp.

  • Troy Lee Designs Inc.

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201009005418/en/

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